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WiredJa Online News

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WiredJa Online News

Global Finance and the Robin Hood Tax

After the first wave of the global financial crisis (2007-2009) receded, economists began to ponder how a recurrence could be prevented. Thus the idea arose of introducing a «Robin Hood tax» – a tax on interbank transactions that would cool bankers’ speculative fervor and preclude the formation of bubbles in the financial markets.

German Panzer Banks Crush Greece, Washington Winces

The German paymaster of Europe has subjugated Greece with breathtaking ruthlessness. In 1941, Nazi Germany crushed Greece with its Panzer tanks. Today, without firing a shot, Germany’s Panzer banks have accomplished the same, turning the country into a de facto German «protectorate» whose national assets and sovereignty are being turned over by Berlin’s financial dictate.

Greece Faces New Kind of Coup

According to the Financial Times, Greek Prime Minister Alexis Tsipras sent a letter to the three major money lenders saying he is ready to accept almost all the conditions proposed by the country’s international creditors at the weekend, marking the latest attempt to keep Greece in the eurozone.

Beijing is transforming EU-China ties by transforming the context

The announcement by Beijing that it will pledge a multi-billion euro investment in Europe's new infrastructure 315 billion euro’s fund at a summit on June 29 in Brussels, signals not only a milestone in financial diplomacy, injecting dramatic vitality to EU-China ties at the expense of the US.

Western Aid to Ukraine Vanishes in Black Hole

After long debates the International Monetary Fund approved a 4-year $17.5 billion loan program for Ukraine, including an immediate $5 billion disbursement. Then the European Commission offered a 1, 8 billion euro aid package to be given out in three trenches.

War and the US Dollar

Although many funerals have been held for the US dollar, still it lives on. On the eve of the collapse of the Bretton Woods currency system, the dollar made up almost 80% of global foreign-exchange reserves (in 1970 it totaled 77.2%, and in 1972 - 78.6%). Then, after the transition to the system negotiated at the 1976 Jamaica Conference, that percentage gradually declined, reaching its lowest level - 59.0% - in 1995. In the wake of financial globalization, the dollar’s positions strengthened again (reaching 70-71% between 1999 and 2001), but then a new decline was seen in the dollar component of global foreign-exchange reserves - dropping below 61% in 2014. Nevertheless, it is still higher than in 1995.
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